Bill > H2793

This bill allows the city of Boston to impose a fee of up to 2% on real estate transfers, with the first $2 million of the purchase price exempted. The fee revenue will be used to fund affordable housing production and preservation, as well as senior property tax relief programs. The bill also adjusts the income and asset restrictions for the senior property tax exemption to make it more accessible. The city can adopt additional exemptions and regulations to implement the transfer fee, and must report annually on the fee's usage and impact.

Budget and Finance

https://malegislature.gov/Bills/193/H2793